O The is no deduction permitted for Goodwill O $1800.00 O $1000.00 $400.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Juan purchases a new business on September 1st of this year. $18,000 was
allocated to the cost of Goodwill. What amount may Juan deduct in the current
year, assuming Juan is a calendar year taxpayer?
O The is no deduction permitted for Goodwill
O $1800.00
O $1000.00
$400.00
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